All articles tagged with #wealth concentration
ProPublica and High Country News document a taxpayer-supported public-lands grazing system where 2024 fees run ~93% below private-market rates, subsidies exceed $2.5 billion, and wealth is concentrated among a small group of permittees, even as tens of millions of acres show environmental degradation and oversight has weakened amid political influence and a push to expand subsidies.
Texas' cutoff for the 1% club, which represents the highest-earning households in the state, is $631,849 per year, according to personal finance website SmartAsset. This figure is about $20,000 lower than the national average. Wealth in America is increasingly concentrated among the few, with the top 1% of families holding over a third of the nation's total wealth. Nationally, it takes a household income of $652,657 to be in the top 1% of taxpayers, earning over eight times as much as the median household income of around $75,000.